Mains Answer Writing for Economy
I will be taking a session on how to write better answers in Economy (Paper III) and improve your marks. This session will be conducted at Unacademy Offline Centre in Karol Bagh.
Timing: 2nd June, 2pm
It's free and no registration required.
I will be taking a session on how to write better answers in Economy (Paper III) and improve your marks. This session will be conducted at Unacademy Offline Centre in Karol Bagh.
Timing: 2nd June, 2pm
It's free and no registration required.
GDP estimates were released yesterday by the NSO for FY 2022-23.
Real GDP increased from Rs. 149.3 lakh crore (2021-22) to Rs. 160 lakh crore (2022-23) showing a real growth of 7.2%
Nominal GDP increased from Rs. 234.7 lakh crore (2021-22) to Rs. 272.5 lakh crore (2022-23) showing a nominal growth of 16.1% [Nominal Growth is high because of the high inflation all round the year]
Real GDP increased from Rs. 149.3 lakh crore (2021-22) to Rs. 160 lakh crore (2022-23) showing a real growth of 7.2%
Nominal GDP increased from Rs. 234.7 lakh crore (2021-22) to Rs. 272.5 lakh crore (2022-23) showing a nominal growth of 16.1% [Nominal Growth is high because of the high inflation all round the year]
Current Weekly Status (CWS) and Usual Status
(for measuring different parameters like Labour Force, employed, unemployed etc.)
The estimate of unemployed in current weekly status gives an average picture of unemployment in a short period of 7 days during the survey period. According to the current weekly status approach, a person is considered as unemployed in a week if he/she did not work even for 1 hour during the week but sought or was available for work at least for 1 hour during the week.
The estimate of the labour force in the usual status includes the persons who either worked or were seeking/available for work for a relatively long part of the 365 days preceding the date of survey. For example, if a person reports as having worked and/or sought/available for work for a total of seven months then he is part of labour force and if out of these seven months he was working only for two months and reported seeking/available for work for remaining five months, then h/she will be classified as ‘Unemployed’ on the usual principal status basis.
Just remember that Usual status is for measuring long term (365 days) and Current Weekly Status is for short term (7 days).
(for measuring different parameters like Labour Force, employed, unemployed etc.)
The estimate of unemployed in current weekly status gives an average picture of unemployment in a short period of 7 days during the survey period. According to the current weekly status approach, a person is considered as unemployed in a week if he/she did not work even for 1 hour during the week but sought or was available for work at least for 1 hour during the week.
The estimate of the labour force in the usual status includes the persons who either worked or were seeking/available for work for a relatively long part of the 365 days preceding the date of survey. For example, if a person reports as having worked and/or sought/available for work for a total of seven months then he is part of labour force and if out of these seven months he was working only for two months and reported seeking/available for work for remaining five months, then h/she will be classified as ‘Unemployed’ on the usual principal status basis.
Just remember that Usual status is for measuring long term (365 days) and Current Weekly Status is for short term (7 days).
ECONOMY MODULE COURSE DETAILS.pdf
228.7 KB
ECONOMY MODULE (PRELIMS + MAINS)
OFFLINE & LIVE ONLINE
Start Date: 19th June 2023
End Date: 31st July 2023
Offlline Admission Link: https://unacademy.com/goal/-/KSCGY/subscribe/61Y6EMREII
Online Admission Link: https://unacademy.com/goal/-/KSCGY/subscribe/G7U1G50B1F
Contact:
UNACADEMY +91 8105186279
3-B, Third Floor, Pusa Road, Karol Bagh, New Delhi
OFFLINE & LIVE ONLINE
Start Date: 19th June 2023
End Date: 31st July 2023
Offlline Admission Link: https://unacademy.com/goal/-/KSCGY/subscribe/61Y6EMREII
Online Admission Link: https://unacademy.com/goal/-/KSCGY/subscribe/G7U1G50B1F
Contact:
UNACADEMY +91 8105186279
3-B, Third Floor, Pusa Road, Karol Bagh, New Delhi
RBI approves 'First Loss Default Guarantee (FLDG)'
FLDG is a contractual arrangement between a Regulated Entity (Commercial Banks, Cooperative Banks, NBFCs) and Lending Service Providers (LSP)/Fintechs or between two Regulated Entities under which the latter (LSP/Fintechs) guarantees to compensate the Regulated Entity, loss due to default up to a certain percentage of the loan portfolio of the Regulated Entity, specified upfront. RBI has approved FLDG cover of maximum up to five percent.
Under FLDG agreements, the fintech originates a loan and promises to compensate the Regulated entity up to a pre-decided percentage in case customers fail to repay. FLDG helps expand the customer base of traditional lenders (Banks/NBFCs) but relies on the fintech's underwriting (risk appraisal) capabilities. The loan is on the books of Banks/NBFCs.
FLDG is a contractual arrangement between a Regulated Entity (Commercial Banks, Cooperative Banks, NBFCs) and Lending Service Providers (LSP)/Fintechs or between two Regulated Entities under which the latter (LSP/Fintechs) guarantees to compensate the Regulated Entity, loss due to default up to a certain percentage of the loan portfolio of the Regulated Entity, specified upfront. RBI has approved FLDG cover of maximum up to five percent.
Under FLDG agreements, the fintech originates a loan and promises to compensate the Regulated entity up to a pre-decided percentage in case customers fail to repay. FLDG helps expand the customer base of traditional lenders (Banks/NBFCs) but relies on the fintech's underwriting (risk appraisal) capabilities. The loan is on the books of Banks/NBFCs.
Question of the Day
As per "The Electricity Act 2003", any person/entity requires a 'license':
1. to generate electricity
2. to transmit electricity
3. to distribute electricity
4. to undertake trading in electricity
As per "The Electricity Act 2003", any person/entity requires a 'license':
1. to generate electricity
2. to transmit electricity
3. to distribute electricity
4. to undertake trading in electricity
How many of the above statements are correct?
Final Results
7%
(a) Only one
29%
(b) Only two
60%
(c) Only three
4%
(d) None
UPSC CSE 2023 PRELIMS RESULT DECLARED
https://www.upsc.gov.in/CSP_2023_WRWN_En_120623.pdf
https://www.upsc.gov.in/CSP_2023_WRWN_En_120623.pdf
'Disinflation' means when inflation is decreasing but still positive. In the last few months inflation has come down from above 7% to around 4% i.e. our economy is experiencing 'disinflation'. In 'disinflation' prices increase in the economy but the rate of increase i.e. inflation decreases. Whereas in 'Deflation' prices decrease and inflation becomes negative.
Source: Indian Express
Government (Ministry of Cooperation) is going to expand the storage capacity for food-grains through Primary Agricultural Cooperative Societies (PACS).
There is major focus of Govt. on PACS (https://t.me/VivekSingh_Economy/3687).
Self Explanatory
Arable land is the land under temporary crops, temporary meadows for mowing or pasture, land under market and kitchen gardens and land temporarily fallow (for less than five years); and land under permanent crops is the land cultivated with crops that occupy the land for long periods and need not be replanted after each harvest. [FAO definition]
Seeing the changing UPSC pattern.... will frame MCQs on these articles and post it on channel.
Government (Ministry of Cooperation) is going to expand the storage capacity for food-grains through Primary Agricultural Cooperative Societies (PACS).
There is major focus of Govt. on PACS (https://t.me/VivekSingh_Economy/3687).
Self Explanatory
Arable land is the land under temporary crops, temporary meadows for mowing or pasture, land under market and kitchen gardens and land temporarily fallow (for less than five years); and land under permanent crops is the land cultivated with crops that occupy the land for long periods and need not be replanted after each harvest. [FAO definition]
Seeing the changing UPSC pattern.... will frame MCQs on these articles and post it on channel.
Regarding ECONOMY MAINS 2023 Notes
All those who are preparing for Mains, I think its better that you revise thoroughly from my "Indian Economy Book" 7th edition (pdf is on channel) all the chapters rather than relying on few important ones. Seeing the changing pattern of UPSC, there is nothing which we can call important, rather thorough study is the need of the hour. That is why I have decided not to release mains notes as it is very difficult to select what is important and what is not. So, revise thoroughly the complete book and you can leave the prelims related stuff which you can very well segregate. Some current topics which is in the news recently and which is not covered in the book, that I will post on the channel and tag (mains). I will also provide you some economy mains questions and broad outline of its answers.
All those who are preparing for Mains, I think its better that you revise thoroughly from my "Indian Economy Book" 7th edition (pdf is on channel) all the chapters rather than relying on few important ones. Seeing the changing pattern of UPSC, there is nothing which we can call important, rather thorough study is the need of the hour. That is why I have decided not to release mains notes as it is very difficult to select what is important and what is not. So, revise thoroughly the complete book and you can leave the prelims related stuff which you can very well segregate. Some current topics which is in the news recently and which is not covered in the book, that I will post on the channel and tag (mains). I will also provide you some economy mains questions and broad outline of its answers.
Open Market Sale Scheme (OMSS)
Food Corporation of India (FCI) sells surplus stocks of wheat and rice under OMSS at pre-determined prices (prices are already fixed in advance) through e-auction to flour mills, private traders, bulk buyers, manufacturers of wheat products in the open market from time to time to enhance the supply of food grains during the lean season and thereby moderate the open market prices specially in the deficit regions.
State Governments are also allowed to procure wheat and rice under OMSS for their own schemes. This is different/in addition to what FCI provides to State Governments for PDS under National Food Security Act 2013.
Recently, Central Govt. in a notification said that it will not sale wheat and rice under OMSS to States to control retail inflation in food grains. This move will hit Karnataka as it has promised free rice to its citizens under the Anna Bhagya Scheme during the recent elections.
Food Corporation of India (FCI) sells surplus stocks of wheat and rice under OMSS at pre-determined prices (prices are already fixed in advance) through e-auction to flour mills, private traders, bulk buyers, manufacturers of wheat products in the open market from time to time to enhance the supply of food grains during the lean season and thereby moderate the open market prices specially in the deficit regions.
State Governments are also allowed to procure wheat and rice under OMSS for their own schemes. This is different/in addition to what FCI provides to State Governments for PDS under National Food Security Act 2013.
Recently, Central Govt. in a notification said that it will not sale wheat and rice under OMSS to States to control retail inflation in food grains. This move will hit Karnataka as it has promised free rice to its citizens under the Anna Bhagya Scheme during the recent elections.
Below I am posting two articles from Indian Express. The first one tells what constitutes 'Middle Class' in India and the second article is about why our 'Middle Class' includes very less no of people/households. Read only the highlighted part. Self explanatory and really good articles.